You know the country is in bad financial shape when the most positive Top 10 list Time Magazine can come up with is its “Ten American Companies That Won’t Cut Jobs.” Still, with all the gloom and doom surrounding Google’s recent cost-cutting moves,it’s easy to forget that the company is actually in a pretty solid position when it comes to outlasting the recession and prospering when things turn around. In fact, Google came in at No. 6 on Time’s list. Not too shabby.
According to Time, the 10 companies on the list are those least likely to need to resort to layoffs, either due to strong balance sheets or recession-fueled growth. Another comforting fact in the list: 40% hail from the technology sector, including No. 1 Cisco, No. 3 Apple, Google, and No. 8 Verizon. The list, in order, is as follows:
1. Cisco
2. Visa
3. Apple
4. Apollo
5. Altria
6. Google
7. Colgate
8. Verizon
9. Amgen
10. Corinthian College
Per Google, Time says it can save money simply by not hiring, but it can also get a jump on the competition by taking its huge cash reserves and injecting them into new initiatives, especially in areas where competitors are “cautious or underfunded.” Could Time be referring to Microsoft, which not only is cutting expenditures but announced 5,000 layoffs recently?
So, it looks like Time at least thinks Google’s in good shape and won’t be adding to the latest spike in U.S. job loss numbers, at least for now. And any glimmer of good news–no matter how tepid–is welcome in this current economy.
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